Carney Says Chance of a No-Deal Brexit Is ‘Uncomfortably High’

Reserve Bank of India also raised the average inflation projection for the second half of the year to 4.8% from 4.7% in June

MARK Carney reveals he has ordered banks to be ready for a recession if there is a "no deal" Brexit.

Jacob Rees-Mogg, who leads the Conservative pro-Brexit European Research Group, said: "Mark Carney has always been the high priest of Project Fear, whose reputation for inaccurate and politically motivated forecasting has damaged the reputation of the Bank of England".

The fall came after Bank of England Governor Mark Carney said there was an "uncomfortably high" chance that Britain will leave the European Union without a deal.

Mark Carney's comments came as Theresa May prepared to cut her holiday short to meet the French President Emmanuel Macron at his summer retreat.

Carney said Britain's financial system would in any case be able to "withstand the shock" as banks have increased capital and liquidity and contingency plans have already been put in place. "It is highly undesirable, parties should do all things to avoid it", Carney said during an interview on BBC Radio 4's Today Programme.

Moto Z3 launches with Verizon with a modular path to 5G
A fingerprint sensor is embedded into the power button on the right side and face unlock features for unlocking is also supported. Google , which had a greater ambition for modular phones and LG, which tried modular phones once, have both given up on the idea.

Rudy Giuliani Can't Stop with the Interview Gaffes
Giuliani said. "We have every reason to believe they don't have anything of the President doing anything wrong". A spokesman for Mueller told The Washington Post that there was no dispute when Mueller left the club.

Apple Stock Buyback Tops $20B In Second Quarter
Apple sold 43.1m iPhones in the June quarter , as customers flocked to its more expensive models like the iPhone X . Canada's entire gross domestic product (GDP ) is valued at about 1.7 trillion dollars right now.

And is now provoking Brexiteers again by making similar claims about a "no deal" Brexit, calling it "highly undesirable" and saying it will lead to higher prices.

He then added: "As a outcome of that, a disruption to the level of economic activity, higher prices for a period of time".

Carney revealed that banks had been stress-tested for property prices falling by more than a third, interest rates going up by nearly four percentage points, unemployment rising to 9.0 percent and the economy entering a 4.0 percent recession.

"We have been planning for very hard circumstances and the banks are ready", Mr Carney said.

Related news:

Hot News

isis-killer-beheading-video-story-top Jessica Lange to return to 'American Horror Story'
Aug 05, 2018 - 00:27
Speaking with Entertainment Weekly in May, creator Ryan Murphy said: 'It's a season unlike anything we've done because there's a big hook to it.

isis-killer-beheading-video-story-top China announces $60 billion of U.S. goods for tariff retaliation
Aug 04, 2018 - 02:56
Trump announced a further round of 25 percent of tariffs June 15 on $50 billion worth of Chinese goods. Beijing can not match those measures dollar for dollar, as its exports far exceed imports.

isis-killer-beheading-video-story-top U.S. Special Counsel Robert Mueller Seeks To Interview Russian Pop Star
Aug 04, 2018 - 02:31
The letter "firmed up a previously expressed willingness to allow certain answers in writing", according to the New York Times . But in an interview yesterday, two of Trump's lawyers said Trump was not ordering Sessions to take any specific action.

isis-killer-beheading-video-story-top EPA Proposes To Freeze Fuel Economy Standards At 37 MPG
Aug 04, 2018 - 02:14
The administration's assertion that lighter, more fuel efficient cars are more risky has been disputed by transport experts. The new plan would freeze fuel economy standards at 2020 levels through the year 2025 and beyond.

isis-killer-beheading-video-story-top West Nile Virus found in some mosquitoes in Portsmouth, Ohio area
Aug 04, 2018 - 01:28
Three mosquito pools have tested positive for the West Nile Virus, the Portsmouth City Health Department reports. Experts say most people who are infected have no symptoms or experience only mild, flu-like symptoms.

isis-killer-beheading-video-story-top Samsung Galaxy Note9 retail box confirms specs
Aug 04, 2018 - 01:17
Meanwhile, an ETNews report has claimed that the price of Galaxy Note 9 will be similar to the previous model, Galaxy Note 8 . From all the renders and leaks we've seen, we can speculate with some confidence as to what the Galaxy Note 9 will look like.

isis-killer-beheading-video-story-top Demi Lovato's Bodyguard Credited With Saving Her Life
Aug 04, 2018 - 01:11
And it has now been claimed that Demi has agreed to check in to a live-in rehab facility when she is discharged from hospital. Lovato was found unconscious in her bed her Hollywood Hills home following a night of partying on July 24.

isis-killer-beheading-video-story-top Judge orders convict to have mouth taped shut over interruptions
Aug 03, 2018 - 05:07
This is the moment a judge in the United States ordered his sheriff deputies to tape a defendant's mouth shut during trial. According to Metro News , Williams continued to protest, saying: 'But you're not letting me tell you what's going on.

isis-killer-beheading-video-story-top Sony posts record Q1 profit as new strategy lift its game
Aug 03, 2018 - 04:48
With the previous year's one-time gain of 36.8 billion yen excluded, Sony logged even sharper first-quarter growth of 61 per cent. It also raised its sales forecast for the full year to 8.6 trillion yen, up from a previously projected 8.3 trillion yen.

Demi Lovato is 'serious about sobriety' and will do 'whatever it takes'
Aug 03, 2018 - 03:47
Jackson later attended a "therapeutic school" in Utah, after which she said she came out "a completely different person". Paris Jackson is not "going back to rehab" following pop singer Demi Lovato's apparent drug overdose .

isis-killer-beheading-video-story-top Urban Meyer on Leave as Ohio State Investigates New Allegations
Aug 03, 2018 - 03:32
Meyer released a statement in the wake of the announcement, but it did not make reference to Courtney Smith's claims. Smith was sacked July 23 after an OH court granted Courtney Smith a domestic violence protective order.

isis-killer-beheading-video-story-top Prosecutors Paint a Picture of Paul Manafort's Lavish Lifestyle
Aug 02, 2018 - 02:01
Rudy Giuliani, the president's personal lawyer, has indicated that Mr Trump could pardon Mr Manafort should he be found guilty. Devine testified that Manafort ran a tightly disciplined, professional campaign that contributed to his candidate's victory.

isis-killer-beheading-video-story-top Leicester coach Puel confident of keeping Man Utd target Maguire
Aug 02, 2018 - 01:42
According to reports , United are even willing to pay 65 million pounds for a player Leicester paid Hull City just 12 million pounds a year ago.

isis-killer-beheading-video-story-top President Trump, "I don't care what the political ramifications are".
Aug 02, 2018 - 01:21
And Conte is describing the USA and Italy as "almost twin countries", adding: "There are so many things that bring us together". Trump pointed to low unemployment and said he expects to have the vote of anyone with a growing retirement account.

isis-killer-beheading-video-story-top Parasite risk in salads and wraps sold at Kroger, Walgreens, Trader Joe's
Aug 02, 2018 - 01:17
The USDA warning comes after an outbreak of Cyclospora tied to McDonald's salads sickened at least 286 people in 15 states. In a recorded message, Salinas, Calif. -based Fresh Express said the recall does not affect its retail salad products.